State-owned company in South Africa wants another R35 billion from taxpayers

• The state-owned company in South Africa, Transnet, is seeking R35 billion from taxpayers for projects through 2030.
• Transnet plans to use the funds to upgrade railways and introduce new equipment to improve its performance, which has been hindered by years of underperformance and graft.
• The funding request comes as part of efforts to revive South Africa's economy, which has expanded by less than 1% a year on average for over a decade, with transport constraints being a major brake on growth.